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Many users familiar with Stockmarket Tips For Nigerians thread are equally familiar with the introduction of stock charts.

My thoughts/ intentions is that if my attempt to post a chart here is successful, then we could use this thread to discuss stocks and their equivalent charts.

My first attempt indicates that the chart does not show on SMN, but opens a web page with the required chart. This will not work for the purpose for which we want so I'll try something else. Anypone with an idea as to how we can post images on SMN should give it a try.

I have attached the image of the Ikeja Hotels to a word document and added commentary. All stock chart gurus shold please comment on the chart as I am a learner.

Please note don't place any weight on my comments until a knowlegdable person adds their own comment.

Caveat empty patapata.

P.S. Those that have something to say should add their commentary to the word doc save and repost. This way all comments on a specif stock are kept in one place for each day unless different charts are posted on the same stock.

I have attached the image of the Ikeja Hotels to a word document and added commentary. All stock chart gurus shold please comment on the chart as I am a learner.

Please note don't place any weight on my comments until a knowlegdable person adds their own comment.

Caveat empty patapata.

P.S. Those that have something to say should add their commentary to the word doc save and repost. This way all comments on a specif stock are kept in one place for each day unless different charts are posted on the same stock.

stockbear,

u are becoming good at this u know. a note though. while u are right it is a dragonfly doji and would suggest a drop in the coming day or so, the explanantion for the formation of the dragonfly is kinda backwards. u see a dragonfly doji occuring in an uptrend would mean that after opening, prices traded mostly downwards (profit takers descending). very few buyers if any at all were willing to bid the price higher and sellers dominated the market. however some buyers surfaced later and bid the price back up to its opening price but no higher hence why the opening and closing prices were basically the same.

C Kenneths I agree with you! This guys is doing abracadabra hereooo. Plz who can teach us all those technicalsooo. I want to do short term now but I need more understanding of the technical analysis Can you guys help? Any material I can read up or any software I can run to assist?

These guys are still training for charts when the market is ablaze? Even in the boom days of the market this charting process did not solve much problems. Nobody in the charting business could predict accurately when stock prices were supposed to stagnate of climb, nobody saw the market crash from a distance, it caught me unawares the same way they were jolted back to reality.

Sorry to say this but most of the time, the trainers dont even believe in the charts, the training fee is the interest. Once again sorry if you feel I am misleading anybody.

These guys are still training for charts when the market is ablaze? Even in the boom days of the market this charting process did not solve much problems. Nobody in the charting business could predict accurately when stock prices were supposed to stagnate of climb, nobody saw the market crash from a distance, it caught me unawares the same way they were jolted back to reality.

Sorry to say this but most of the time, the trainers dont even believe in the charts, the training fee is the interest. Once again sorry if you feel I am misleading anybody.

It all depends on how you look at it. I am a core fundamentalist and I believe in it but I can assure you that in volatile periods like these, you can actually use technicals to invest. Like knowing when a good stock has reached the bottom and a good time to enter. I have been using it cursorily but I decided to take it more seriously a few weeks ago and I can assure you, it works.

It all depends on how you look at it. I am a core fundamentalist and I believe in it but I can assure you that in volatile periods like these, you can actually use technicals to invest. Like knowing when a good stock has reached the bottom and a good time to enter. I have been using it cursorily but I decided to take it more seriously a few weeks ago and I can assure you, it works.

I think the point is we need to see more predictive chartism. I dont see the value of after the fact charting.

I dont think anyone can say for sure using thecnical analysis that a bottom has been reached. U can only know after the fact. However, u can guess that a bottom is very near and buy on that. I did that in end January and have 30% gain within a month to show for it. Which by the way i will cash on if it reaches 40% after charges.

My view is that fundamental analysis combined with some technical analysis to determine entry point is a good strategy whether u are a trader or a long term investor.

It all depends on how you look at it. I am a core fundamentalist and I believe in it but I can assure you that in volatile periods like these, you can actually use technicals to invest. Like knowing when a good stock has reached the bottom and a good time to enter. I have been using it cursorily but I decided to take it more seriously a few weeks ago and I can assure you, it works.

Okay, maybe it works but it gives me headache to think of the additional stress, I have picked some good profits trading without charts so why should I clog up the whole thing with charts. It it is too complicated, it will also be very complicated to pull out profits from. Tha'ts how I see it.

You might want to have a look at the attached document. It is the user guide for Maloo; a software created specifically for the NSE. And it is free! Details of how to get and use the software are contained in the guide.